App AnnieKing, the company behind Candy Crush Saga, a wildly popular smartphone and Facebook puzzle game, is planning to file for an IPO, according to the Wall Street Journal.
The company has hired J.P. Morgan Chase & Co., Credit Suisse Group AG, and Bank of America Corp., to handle the potential offering.
The possible IPO will be interesting to watch unfold as Zynga, another gaming company, is going through trouble as a result of poor performance on Wall Street. Zynga’s stock has fallen 70% since the company’s IPO in 2011. Zynga recently had to lay off 520 employees.
King, based in London, has raised $50 million from investors since 2005. The company’s CEO and co-founder Riccardo Zacconi said last year that the company has been profitable since 2005.
Candy Crush launched on Facebook in April of 2012 and is the most popular app on the social network with about 15.4 million average daily users, according to App Data. WSJ says the company has 70 million daily players if you count all its game titles.
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